In August, the manufacturing purchasing managers’ index fell from 58.1 in July to 57.9, while the services purchasing managers’ index increased from 60.3 to 60.4 in July. The composite index consequently dropped to 60.5 from 60.7 in July, the lowest level since May. Despite this, the most recent manufacturing PMI number was higher than the…
Oil prices remained stable on Friday due to downward revisions in U.S. employment data and renewed ceasefire talks in Gaza, which alleviated supply disruption concerns. Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures rose by 0.1% each, while Brent futures fell by 3% this week to $77.32 a barrel, and WTI lost…
Gold prices rose slightly in Asian trade on Friday, but fell from record highs on a pro-dollar Federal Reserve chief warning. Earlier this week, the yellow metal hit an all-time high on increasing hopes that the central bank will cut interest rates in September. Despite some profit-taking and a decline in prices, gold was relatively…
IREDA’s shares surged 11.2% to an intraday high of Rs 265.70 on the company’s announcement in an exchange filing that it is exploring options for funding up to Rs 4,500 crore through rights issues, qualified institutional placement, and other ways. The financing will be presented to the board of directors for approval on August 29…
Gold prices fell to record lows in Asian trade on Thursday, as the yellow metal’s rally cooled, as U.S. interest rate cuts and a slowdown eased. The yellow metal hit an expected high this week the Federal Reserve will begin cutting rates in September. Spot gold fell 0.5% to $2,500.55 an ounce, while gold futures…
According to a CRISIL Ratings report, India’s cement manufacturers are anticipated to invest around Rs 1,25,000 crore in capital expenditure (capex) during the fiscal years 2025–2027. It also stated that the pursuit of market share and a positive prognosis for demand will be the driving forces behind this. The projected expenditure will be 1.8 times…
Cotton prices rose by 0.26% to ₹57,200 due to concerns over reduced acreage in the Kharif cropping season. The Cotton Association of India reported a 9% decrease in cotton acreage, which is expected to be around 113 lakh hectares this year. This decline is primarily due to lower yields and high production costs. India’s cotton…
Zinc prices rose by 0.89% at 266.95 due to improved demand in China and a weakening dollar, along with expectations of an imminent US interest rate cut. The decrease in zinc inventories in warehouses and higher energy costs, which account for a significant portion of zinc production expenses, also supported prices. Positive economic signals from…
In the context of the Navi Mumbai Airport Influence Notified Area (NAINA) Project in Maharashtra, Larsen and Toubro (L&T) stated on Wednesday that its Transportation Infrastructure company had obtained a sizable order for the Integrated Infrastructure Development project in Town Planning Schemes 2 to 7. The project was given the go-ahead by City and Industrial…
Data from the National Securities Depository (NSDL) shows that in the first half of August, foreign portfolio investors (FPIs) sold shares worth $1.76 billion of financial services businesses, marking the largest outflow from the industry since January. With $2.24 billion in total sales, the financial services industry accounted for over 78% of all net outflows…
